Although there are already plenty of DAOs, most of them have had trouble being recognized by the legislation. However, the situation seems to be changing. In July 2021, the legislators in Wyoming, United States, passed a bill allowing DAOs to be officially registered in the state. This has given them the same rights as a limited liability company (LLC).
API3 transition to DAO governance
the support percentage (the percentage of tokens needed to approve the voting in favor of ‘yes’),
minimum approval percentage (the percentage of ‘yes’ votes needed for the approval of the proposal from the remaining pool of tokens), and
vote duration (the time that participating members have to cast a vote).